What Are The 4 Types Of Market Segmentation?

What Are The 4 Types Of Market Segmentation?
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  1. What are the 4 types of market segmentation?
    Demographic, behavioral, geographic and psychographic are the 4 types of market segmentation.
    1. Demographic: Dividing a population into groups on the basis of characteristics like age, gender, income, religion, education, marital status etc is known as demographic segmentations.
    Some examples could be segments on the basis of age group like 0-10 years, 11-20 years and 20 years and above.
    Another example of a segment could be people who earn less than 1 lakh, between 1lakh to 5 lakh and 5 lakh and above.
    2. Behavioral: Here segments are made according to customer behaviors like buying habits, spending habits, brand awareness etc.
    One example could be essentials only buyers, compulsive buyers, etc.
    3. Geographic: Geographic segments are created on the basis of location.
    Like urban population and rural population or people living in tier-1 cities and tier-2 cities.
    4. Psychographic: Segments are created on the basis of psychological influences, lifestyle, attitude, interests, personality traits, motivations, priorities etc.
    Example: people who buy luxury products only, people who purchase inexpensive products only, etc

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